1. Preference An(acceptable) alternatives set (or a consumption set)XCR ° A(weak) preference relation“% a binary relationship on X, for any x,ye X, x%ymeans x is at least as good as y A strict preference xxyex% y, but not y %x 。 An indifference relation“~” x>y分>x%y,andy%x lecture for Chu Kechen Honors Collegelecture4 for Chu Kechen Honors College 1.Preference ➢ An (acceptable) alternatives set (or a consumption set ) ⚫ A (weak) preference relation“ ”: a binary relationship on X, for any , means” x is at least as good as y”. ⚫ A strict preference “ ”: ⚫ An indifference relation “ ”: k X  + % x y,  X x y % x y x y y x  % % ,but not x y x y y x  % % ,and